Hanmi Financial Corporation Stock Forecast
Hanmi Financial Corporation stock price down 0.629% on Friday
(Updated on May 03, 2024)
The Hanmi Financial Corporation stock price fell by -0.629% on the last day (Friday, 3rd May 2024) from $15.90 to $15.80. During the last trading day the stock fluctuated 1.73% from a day low at $15.73 to a day high of $16.00. The price has risen in 5 of the last 10 days and is up by 3.88% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 thousand shares and in total, 139 thousand shares were bought and sold for approximately $2.20 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $15.98 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Hanmi Financial Corporation stock with a 90% probability to be traded between $14.65 and $16.13 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HAFC Signals & Forecast
The Hanmi Financial Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $15.67 and $15.27. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -0.629%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Thursday, May 02, 2024 and based on theory for this formation the price should fall by -17.22% to $13.08 within 24 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Hanmi Financial Corporation stock
Hanmi Financial Corporation finds support from accumulated volume at $15.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.272 between high and low, or 1.73%. For the last week, the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: $15.17 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (HAFC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Hanmi Financial Corporation to open at $15.84, and during the day (based on 14 day Average True Range), to move between $15.36 and $16.24, which gives a possible trading interval of +/-$0.436 (+/-2.76%) up or down from last closing price. If Hanmi Financial Corporation takes out the full calculated possible swing range there will be an estimated 5.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.82 (0.13%) than the support at $15.21 (3.73%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Hanmi Financial Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Hanmi Financial Corporation stock to perform well in the short-term period.
Current score: 3.035 Buy Candidate Unchanged
Predicted Opening Price for Hanmi Financial Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $15.84 ( 0.271%) | $15.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HAFC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.11 | 1.99 % | |
| R2 | 16.01 | 1.33 % | ||
| R1 | 15.95 | 0.93 % | ||
| Current price: | 15.80 | |||
| Support | S1 | 15.74 | -0.386 % | |
| S2 | 15.67 | -0.791 % | ||
| S3 | 15.57 | -1.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.92 | 0.759 % | |
| R2 | 15.87 | 0.443 % | ||
| R1 | 15.82 | 0.127 % | ||
| Current price | 15.80 | |||
| Support | S1 | 15.21 | -3.73% | |
| S2 | 14.86 | -5.95% | ||
| S3 | 14.85 | -6.01% |
HAFC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | May 03, 2024 | May 22, 2024 | $0.250 | 1.58% |
| 2 | Jan 25, 2024 | Feb 02, 2024 | Feb 22, 2024 | $0.250 | 1.67% |
| 3 | Nov 03, 2023 | Nov 03, 2023 | Nov 22, 2023 | $0.250 | 1.51% |
| 4 | Aug 06, 2023 | Aug 04, 2023 | Aug 23, 2023 | $0.250 | 1.45% |
| 5 | Aug 03, 2023 | May 05, 2023 | May 24, 2023 | $0.250 | 1.67% |
FAQ
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